Anyone Else Frustrated w/ Mouteki but don't want to give up? | Forex Factory

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Anyone Else Frustrated w/ Mouteki but don't want to give up?

  • #1
  • First Post: Oct 25, 2006 1:12pm Oct 25, 2006 1:12pm
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
Believe and Achieve!
  • #2
  • Oct 25, 2006 1:46pm Oct 25, 2006 1:46pm
Market dynamics change and so too you have to adapt your strategy.
  • #3
  • Oct 25, 2006 1:54pm Oct 25, 2006 1:54pm
Yes, and that would require moving away from straight Mouteki. Again, goign against the system as designed. Btu, if there is a better way I want to find out how I like the fact that Mouteki uses price only and not lagging indicators. But Mouteki needs just a lil miore I think - but what????
Believe and Achieve!
  • #4
  • Oct 25, 2006 2:08pm Oct 25, 2006 2:08pm
You should try Elliot wave that is how forex is traded by the Major market movers then you will make some money. take a look at my thread. Elliot wave trading. Or if you cant stay in the market long Try my system FiXmE1ToO's Center pointon page 14 of my thread.



Quoting sirwolf
Yes, and that would require moving away from straight Mouteki. Again, goign against the system as designed. Btu, if there is a better way I want to find out how I like the fact that Mouteki uses price only and not lagging indicators. But Mouteki needs just a lil miore I think - but what????
  • #5
  • Oct 25, 2006 2:27pm Oct 25, 2006 2:27pm
sirwolf--

Yea, trading vanilla mouteki can leave your account in the negative if you dont filter out some of the signals. As for filters...i'm still fairly new in trading this system and still trying to work out a few myself. Search the forum for filters, you'll come across a few that are helpful. Also, if you're up for doing some reading, take a look at Thomas DeMark's "The New Science of Technical Analysis". Mouteki's method is actually based on DeMark's trend lines (TDTL) and 1 of his methods of generating a signal. I haven't read the book fully, only leafed through it briefly but seems it would do the job of helping you figure out some ways to filter out the bad signals.


Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
- nick andre -
  • #6
  • Oct 25, 2006 4:16pm Oct 25, 2006 4:16pm
when i used mouteki, it's profitable though, but not sure for the last few weeks as i've been to busy to trade. but now, am back. hopefully, it will be profitable
  • #7
  • Oct 25, 2006 4:32pm Oct 25, 2006 4:32pm
Hi SirWolf, NLP (greetings!) in his post #5 hit in on the mark (pun). In order to really understand what Mouteki is talking about one must read Tom DeMark's book as he is the originator. He discusses the "filters" he uses. If one concentrates soely on the TDTLs, Tom has a whole chapter (and then some) on how to properly trade them...much of this has not been written into the "Vanilla Mouteki" as you called it. I suggest you get and read the book. There you will find answers to your question. And as i've posted prior to this, i don't trade TDTLs on 4hr charts...I place them on my hourly charts. Why? Because i sense a natural rythym to the 1 hour charts that i do not sense with the 4 hour. An hour is an hour anywhere in the trading world...but which four hours are YOU trading off of. 4 hr candles just never felt right to me, and comfort and confidence are a great factor in trading skillfully.

Good Trading,
Thom
  • #8
  • Oct 25, 2006 8:43pm Oct 25, 2006 8:43pm
Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
Yeah problem is did we really get the full system??? Moutekitrader never returned and probably never will, so you either live with what you got, search for filters, or move on. Maybe only play one pair - period. I think Mouteki method as was posted on this site needs some work, but it was a good start for what we got. Overall, you should be positive in the end I think. I backtested June - September. Sept. was a great month making the trades positve in net. October probably sucks, but I don't know as I stopped using Mouteki in the middle.
  • #9
  • Oct 25, 2006 8:48pm Oct 25, 2006 8:48pm
Quoting accrete
Hi SirWolf, NLP (greetings!) in his post #5 hit in on the mark (pun). In order to really understand what Mouteki is talking about one must read Tom DeMark's book as he is the originator. He discusses the "filters" he uses. If one concentrates soely on the TDTLs, Tom has a whole chapter (and then some) on how to properly trade them...much of this has not been written into the "Vanilla Mouteki" as you called it. I suggest you get and read the book. There you will find answers to your question. And as i've posted prior to this, i don't trade TDTLs on 4hr charts...I place them on my hourly charts. Why? Because i sense a natural rythym to the 1 hour charts that i do not sense with the 4 hour. An hour is an hour anywhere in the trading world...but which four hours are YOU trading off of. 4 hr candles just never felt right to me, and comfort and confidence are a great factor in trading skillfully.

Good Trading,
Thom
Finally, one of the FF veterans speak out about using the 1h time frame. If a Mouteki trade is going against you, you can look at the 1h for explanation because the same behavior work on the 1h as it should on the 4h.
  • #10
  • Oct 25, 2006 9:30pm Oct 25, 2006 9:30pm
During this time, the market change so we must change our trading style.



Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
"Invest With The Insiders, Not The Masses" George Muzea
  • #11
  • Oct 25, 2006 9:33pm Oct 25, 2006 9:33pm
Quoting accrete
Hi SirWolf, NLP (greetings!) in his post #5 hit in on the mark (pun). In order to really understand what Mouteki is talking about one must read Tom DeMark's book as he is the originator. He discusses the "filters" he uses. If one concentrates soely on the TDTLs, Tom has a whole chapter (and then some) on how to properly trade them...much of this has not been written into the "Vanilla Mouteki" as you called it. I suggest you get and read the book. There you will find answers to your question. And as i've posted prior to this, i don't trade TDTLs on 4hr charts...I place them on my hourly charts. Why? Because i sense a natural rythym to the 1 hour charts that i do not sense with the 4 hour. An hour is an hour anywhere in the trading world...but which four hours are YOU trading off of. 4 hr candles just never felt right to me, and comfort and confidence are a great factor in trading skillfully.

Good Trading,
Thom
Ahhh, you've uncovered the same thing I have...

When you combine 1 hour with other timeframes, your success rate gets high...

Like, say for example you use 1 hour as an entry trigger... versus other, longer timeframes...
Mr. Trend
  • #12
  • Oct 25, 2006 11:57pm Oct 25, 2006 11:57pm
Ill have to keep doing this for a while, but i love the Mouteki method. Ive backe tested for a week and saw almost all winners.

Ive demode it this week, +160 pips on monday, 3 trades
-27 pips tuesday - 1 trade
+60 tonight, 3 trades

total = 193 pips..

Not freaking bad, tonight, i got in late on the 4hr bar, 1 bar late but the market had only moved about 20 pips each. Or else id say those numbers from today couldve been double....so far i cant complain.
  • #13
  • Oct 26, 2006 12:01am Oct 26, 2006 12:01am
Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
be patient with it.. it works fine.. give it time.. use ur discretion.. dont enter every trade.. dont enter before news.. plus i think this method is far better than elliot wave mthod.. which in my view is complicated.. anyhow this is just my opnion
BECAUSE I CAN !
  • #14
  • Oct 26, 2006 12:02am Oct 26, 2006 12:02am
Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
oh and first demo a month on two on the majors only using this method.. i had 11 trades in a row using moutaki.. best ever uptil now..
BECAUSE I CAN !
  • #15
  • Oct 26, 2006 2:21am Oct 26, 2006 2:21am
Quoting sirwolf
I have been testing Mouteki for over a month now. First week r two I had good results, makign about $3800 profits. BUt now I am having more losers than winners and it is eating my fake profits away to around $800. I am trading Vanilla Mouteki.

I know many have discussed using indicators or other means of filtering. I beleive if it works, don't touch it, but now I am wondering if there is a way to limit the bad trades. I know there is magic here somewhere and I do not want to give up on Mouteki. I knwo there has to be a fix somewhere.

Anyone else experiencing what I am experiencing or feeling what I feel?

Thanks Folks!
1st. Are you testing it on DEMO? If it is, though luck. We were making real money with mouteki - just yesterday mouteki calls for long GBPUSD and Im in for more than 50 pips.

2nd. Filter? Simple, check the daily chart, and watch the trend: Up or Down trend? And dont trade against it.

You can also use "fundamental" news as a filter. For today, FOMC + Brown = USD Bear + GBP Bull, you can see the balance tipped in favor of GBP.

Lastly, dont be greedy. Mouteki oftentimes will tell you 100 pips or more of Target. Just do half or even less. Sometimes, beeing greedy is running with the profit NOW than running win no profit at all later.
  • #16
  • Oct 26, 2006 2:25am Oct 26, 2006 2:25am
Quoting BurgerKing
2nd. Filter? Simple, check the daily chart, and watch the trend: Up or Down trend? And dont trade against it.
BK, I applaud your simplistic view for a filter. I've always used simple methodologies just like that with much success. People just don't realize how simple it is. Of course, our heads are what makes it all screwy.
Mr. Trend
  • #17
  • Oct 26, 2006 3:19am Oct 26, 2006 3:19am
Quoting Mr Trend
BK, I applaud your simplistic view for a filter. I've always used simple methodologies just like that with much success. People just don't realize how simple it is. Of course, our heads are what makes it all screwy.
True
BECAUSE I CAN !
  • #18
  • Oct 26, 2006 1:19pm Oct 26, 2006 1:19pm
even looking at the daily chart and seeing an overall of down, doesnt mean going agaisnt it doesnt work

overall on eur/usd is down but 4hr says buy and it was correct,

it went further than predicted...but that means you make great money without getting the whole run
  • #19
  • Oct 27, 2006 7:36am Oct 27, 2006 7:36am
dear all...

i agree... Mouteki still the best for me. but now i draw the mouteki trend line of DAILY, 4 Hour and 1 hour in a single chart...

also i put FIBBO Line from previous week..

and stoch 14,3,3 as my support entry..

Don't trade fight the trend..
keep watching the major news.. FF give RED COLOR!!! just believe it

just follow it.. The best of Mouteki is make me more patient than before.. i think the most difficult in trading is to fight our bad bahaviour.. greedy, emotion... etc..

i use it in two month, and my account is rose to 90%.. and i try to focus on single pair.. GBPUSD.. it's just my 2 cent

good luck..
Simplicity your Life
  • #20
  • Oct 27, 2006 7:50am Oct 27, 2006 7:50am
Quoting stevenali
dear all...

i agree... Mouteki still the best for me. but now i draw the mouteki trend line of DAILY, 4 Hour and 1 hour in a single chart...

also i put FIBBO Line from previous week..

and stoch 14,3,3 as my support entry..

Don't trade fight the trend..
keep watching the major news.. FF give RED COLOR!!! just believe it

just follow it.. The best of Mouteki is make me more patient than before.. i think the most difficult in trading is to fight our bad bahaviour.. greedy, emotion... etc..

i use it in two month, and my account is rose to 90%.. and i try to focus on single pair.. GBPUSD.. it's just my 2 cent

good luck..
90 percent return?? very nice
BECAUSE I CAN !
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